• Money_chart

    Ocwen expects another loss in 2017 thanks to NYDFS, CFPB regulatory issues

    InvestmentsLendingServicing

    CEO: We believe we have earned the right to acquire MSRs again


  • InvestmentsLendingServicing

    CEO: We believe we have earned the right to acquire MSRs again

    Despite the California Department of Business Oversight removing the state's mortgage servicing restrictions on Ocwen Financial, the nonbank is still prohibited from acquiring mortgage servicing rights in bulk, thanks to the company’s previous settlement with the New York Department of Financial Services. And those restrictions and other "regulatory challenges" will likely lead to another yearly loss for the nonbank.

This month in
HousingWire magazine

Cover Story
February 2017

Mortgage servicing boom

In the aftermath of the financial crisis, low interest rates and strict capital requirements combined to make servicing a losing proposition for many banks. The sharp glare of regulators didn’t help either, as banks and nonbanks navigated the already thankless waters of servicing with a new target on their backs. But all that changed abruptly in the fourth quarter of 2016 with the one-two punch of a Trump win and a rate hike by the Federal Reserve.

Feature

Servicing under Trump's administration

Servicing